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                                                                                                                                            Appendix C



                                                                           Agency Action Plan                                                    Action
                                                                                                                               Reason for
                                                                                              Target                                             Taken/
                                                                                                              Status of     Partial/Delay/Non-
   Ref      Audit Observations       Audit Recommendations       Action   Person/Dept.    Implementation                                         Action
                                                                                                           Implementation   Implementation, if
                                                                  Plan    Responsible          Date                                               to be
                                                                                                                                applicable
                                                                                         From To                                                 taken
           contrary to Sections 97   corresponding
           and 104(i) on the NGAS    depreciation expenses
           Manual for LGUs,          for these PPE accounts.
           Volume I, Paragraph 71
           of IPSAS 17, and COA
           Circular No. 2015-008
           dated November 23,
           2015, thus resulting in
           the understatement of
           the PPE accounts and
           depreciation expenses in
           the General Fund.
2023 AAR   Time Deposits maturing 10. We recommended that
AO No. 4   in less than 90 days,       Management prepare a
page 42    totaling ₱200 million,      correcting        entry
           were         erroneously    debiting Cash in Bank-
           classified as Cash in       Local Currency, Time
           Bank- Local Currency        Deposits, and crediting
           Savings Account instead     Cash in Bank-Local
           of Cash in Bank- Local      Currency       Savings
           Currency Time Deposits      Account amounting to
           under Cash and Cash         ₱250 million for the
           Equivalents,        while   total amount placed
           accounts with a 358-day     under time deposits
           maturity term amounting     and direct the City
           to ₱50 million were         Accountant to present
           incorrectly    presented    investments in Time
           under Cash and Cash         Deposits           with
           Equivalents instead of      maturities of 90 days
           Investments, contrary to    or less amounting to
           IPSAS 1 and 2, resulting    ₱200 million as Cash
           in the overstatement of     and Cash Equivalents
           Cash       and      Cash    while account with a